Canadian Pacific Railway Gains Ground Amid Strategic Partnership as $0.27 Billion Volume Ranks 428th in Market

On October 2, 2025, Canadian shares traded with a volume of $0.27 billion, ranking 428th among listed stocks. The Canadian Pacific Railway (CP) rose 1.38%, outperforming broader market trends amid sector-specific developments.

Recent corporate activity highlighted a strategic shift in railway logistics, with CP announcing a partnership to optimize cross-border freight corridors. The move aligns with year-end capacity constraints reported by key North American rail operators, positioning CP to benefit from elevated demand for intermodal services. Analysts noted the timing coincides with regulatory reviews of transcontinental rail infrastructure, potentially amplifying operational efficiency gains.

Market participants also observed muted volatility in Canadian-listed equities, as macroeconomic data showed mixed signals on commodity prices and manufacturing output. While energy sector indices remained range-bound, infrastructure-related stocks demonstrated relative strength, driven by government infrastructure spending commitments. This divergence underscored the importance of sector-specific fundamentals over broad market indices.

To run this back-test accurately I need to pin down a few implementation details and make sure the dataset we pull is manageable: 1. Trading universe • US-listed common shares on NYSE + NASDAQ (ex-ETFs, ex-OTC) ― is that acceptable? • Or do you have a different universe in mind? 2. Timing of the trade • Typical approach is: after the closing bell we already know each stock’s daily volume rank, so we buy at that day’s close and sell at the next day’s close (a 1-day holding period). • Alternatives are “next-day open” entry or “same-day open” (which isn’t actually feasible because the volume rank isn’t known until the day is over). • Which entry/exit convention would you like? 3. Weighting method • Equal-weight across the 500 names (standard) • Or dollar-volume weighting/market-cap weighting? 4. Data size • Pulling daily price + volume for every US ticker from 2022-01-01 to today then ranking them each day is perfectly doable, but it is a much larger job than a single-ticker back-test. • If you’re OK with that, I’ll proceed – it just takes a little longer for the tools to crunch. • Otherwise we could narrow it down (e.g., top 100 by volume, or limit to S&P 500 constituents, etc.). Once I have your answers I can set the parameters and launch the data pull and back-test in one go.